Opportune time to invest in stocks: Morgan Stanley India MD

INDIA'S EQUITY MARKET is in a bright spot despite ongoing corrections, and this may well be an 'opportunistic time' to invest in stocks, Morgan Stanley India managing director Ridham Desai said on Sunday.

- NARAYANAN V

Speaking at an event, Desai said shifting consumption patterns, rising energy usage and increasing consumer borrowing will drive India's growth in coming decades, which bodes well for the stock markets.

Desai pointed out that in India's income pyramid, a significant portion of the population remains at the bottom with very basic consumption levels. "But there's a major transition happening in this pyramid," he said, adding that the number of middle-class families will rise to 170 million in the next 10 years, from 70 million at present. The number of rich families, currently around 5 million, will grow to 25 million over the same period.